Good tuesday morning, welcome to squawk alley. Im Carl Quintanilla with jon fortt and Julia Boorstin with us dow because up 275 this morning. We lost some of that the covid19 vaccine rotation is continuing with tech down another 2 today and the s p 500 down 26 points thats where well begin this morning. The nasdaq falls investors rotating out of tech to some degree the managing director is going to help us start off the hour. Good morning, mark good to see you. The. Hey, carl, good to see you. We know i mean, the argument has been made that world changed a little bit yesterday for the better but is the tech reaction is there bath water being thrown out too . Well, yeah. The world did change id argue a lot yesterday. And not surprising that were seeing a rotation in some of the tech names i think for the next little while here, you know, expect the expected were going to think continue to see some rotation away from the work from home names probably bate probably a bit of a short term r
Commodities as well, as stimulus negotiations have gone nowhere, and the outcome of next tuesdays election still unclear. The dow having its worst day in more than four months. At its lows, a loss of 965 points. We are still down 750. We have the s p down 74, the nasdaq bleeding about 225 points. Wait until we show you the dow jones transports as well. Its not a pretty picture. We have our Market Mavens on high alert. We are filling the show with top voices and names to help you make it through this hour. Ceos are also on high alert as well. The ceo of the toy giant that makes those uberpopular lol dolls is here on what hes seeing with early Holiday Spending, but also, whats behind his 11th hour decision to change his vote from joe biden to donald trump . Mga entertainments isaiah larian explains the one thing behind it in a fox business exclusive. The hard numbers are in. The wall street journal has done some serious groundwork and now says the Trump Trade War with china and europe hu
Billionaires index. Raise 30 5ting to billion in hong kong and shanghai. Aviation in australia. Alice springs emerges as the ideal place to store passenger planes left idle by the coronavirus. Shery. Shery breaking news out of south korea. We are getting the preliminary thirdquarter gdp numbers and we are seeing the quarter on quarter the economy has grown 1. 9 , which is beating expectations of 1. 3 and this is also coming after its first recession since 2003. We saw a contraction of more than 3 in the previous Second Quarter. Youre on your, still a contraction of 1. 3 but its a much smaller contraction than was expected and it is also a contraction that has eased from the previous quarter. We have seen growth and strength when it comes to south koreas exports and manufacturing industries. Thirdquarter manufacturing actually growing 7. 6 quarter on quarter when you look at the details in the gdp numbers. We have seen the rebound in china. South koreas biggest trading partner helping i
Month of september, strong Consumer Sentiment numbers to go along with them. And later, gilead pushing back after the World Health Organization says the drug remdesivir does not prevent death in coronavirus patients. Weve got the latest details as power lunch starts right now thank you, ty. The markets are marching back after a few down days. Dom chu has more on whats moving decent sized gains but off the high of the session. We are up 243 points with the dow at the highs of the session, up roughly 348 points. You can see there, yes, still strong gains but not nearly where we were earlier in the day. The s p has reclaimed that 3,500 mark, the nasdaq only up about one third of 1 . The leadership in terms of the s p 500 has been in one week industrials and technology, both up nearly about 1. 5 meanwhile, the biggest laggard off nearly 2 is the real estate sector some of the stocks to watch with regard to covid vaccines and everything else, pfizer shares, possible vaccine for emergency us
Town halls. Who came out on top . I will ask. Also coming up, pfizer announcing it will hopefully be able to move forward with its vaccine next month as americans try to hold out hope. We have the very latest on the trials and how they impact the investing. Of course, its all about your bottom line. We will talk about that at the bottom of the hour. All that and so much more on making money. Charles all right, folks. The markets bolted out of the gate initially powered by higher than expected retail sales through september. Huge number, crushing wall street. In fact, overall, up 1. 9 . The street was looking for up. 7 . More than 300 more above the 0. 4 in consensus and the control group which goes into the gdp report, up 1. 4 . Department stores, they saw a huge rebound, clothing popped as well. Even the internet, its interesting, though, because it had a more pedestrian move. Meanwhile, restaurants, they picked up really nicely as Grocery Stores seemed to have plateaued. Auto sales w